- US premium up 38% since the start of the year amid logistics woes, pending investigation into aluminium imports
- Domestic premiums in Brazil post second weekly rise
- Benchmark Rotterdam duty-unpaid premium touches fresh one-year high
- Near-term weakness eyed in Japan market, but Q2 MJP premium expected to settle higher on soaring Midwest number
US Midwest surges as trucking reality sinks in
The US Midwest aluminium premium
soared to 12.75-13.25 cents per lb on Tuesday February 6, up by 14.3% from the prior week and 38% higher than where it started the year at.
Spot P1020 is not readily available at levels below the low end of the range, suppliers said, with customers in the spot market forced to pay largely due to the impact that the lack of available trucks is having on the premium.
“Regular suppliers are checking [the spot market] out, they need to cover their...